Treasury yields fall after Fed minutes

US Treasury yields were mostly flat on Thursday, as investors digested the minutes of the latest Federal Reserve meeting.

return on standard 10-year treasury bonds It decreased slightly to 2.74%. return on 30 year treasury bonds It rose one basis point to 2.974%. Returns move inversely with prices, 1 basis point equal to 0.01%.

Federal Reserve issued Minutes From its meeting in May on Wednesday afternoon, which indicated that the central bank was ready to proceed with multiple increases in interest rates of 50 basis points, likely to go well beyond market expectations.

The FOMC also said the central bank may move beyond its “neutral” policy stance into a “restrictive” area.

Yogi Dewan, CEO and founder of Hassium Asset Management, told CNBC’s “Squawk Box Europe” on Thursday that the Fed’s meeting minutes were “much less hawkish than the market had been expecting, and we’ve always seen that rate hike expectations by the Bank of The Fed is overrated.

For this reason, Dewan said his company expects a smaller rate hike on the back of slowing economic growth, but noted that “the problem is that you haven’t had the economic data in front of you to justify it yet.” [in terms of how] It will start over the next three to six months.”

Wednesday’s Treasury yields saw little movement after the minutes were released, while US stocks rose.

On Thursday, a second estimate of US GDP growth for the first quarter is due at 8:30 AM ET.

The number of jobless claims filed during the week ending May 21 will also be released at 8:30 AM ET.

April pending home sales data is due at 10 AM ET.

– CNBC’s Jeff Cox contributed to this market report.